30 June 2017
Clifford Chance advises lenders on £1.15bn purchase of the City of London's 'Cheesegrater' building
International law firm Clifford Chance has advised Bank of China (Hong Kong), HSBC and ING Real Estate Finance on the financing of Hong Kong investor C C Land Holdings £1.15 billion purchase of The Leadenhall Building, more commonly known as the ‘Cheesegrater’, in the City of London.
The deal is the largest single property to sell in the UK since the sale of the 8 Canada Square in Canary Wharf in 2014 for £1.175bn, and marks the continued investment in the City of London from overseas investors.
"It has been a pleasure to work closely with a multidisciplinary team of colleagues across London and Hong Kong, to complete the acquisition financing of one of London's most iconic buildings", said Jane Cheong Tung Sing, real estate finance partner and co-head of the Clifford Chance real estate sector.
The client team was led by Jane Cheong Tung Sing and Zak Ikponmwosa in London and Dauwood Malik and Anuj Shah in Hong Kong, with support from tax colleagues Dan Neidle and Jemma Dick, derivatives colleagues Anne Drakeford and Daniel Deacon, construction colleague Edward Bretherton and real estate colleagues Alis Pay and Marcus Wright.